12.EARNINGS PER SHARE The following table summarizes the calculation of basic and diluted earnings per common share: | | | | | | | | | | | | | | For the Three Months Ended March 31, | | | 2026 | | 2025 | | | | (Dollars in thousands, except share and per share amounts) | Net income applicable to common stock | | $ | 5,290 | | $ | 5,763 | | | | | | | | Average number of common shares outstanding | | | 24,756,977 | | | 25,519,217 | Less: Average unallocated ESOP shares | | | 655,548 | | | 706,465 | Weighted-average number of common shares outstanding - basic | | | 24,101,429 | | | 24,812,752 | Add: Effect of dilutive stock options and restricted stock | | | 241,536 | | | 124,278 | Weighted-average number of common shares outstanding - diluted | | | 24,342,965 | | | 24,937,030 | | | | | | | | Net earnings per common share: | | | | | | | Basic | | $ | 0.22 | | $ | 0.23 | Diluted | | $ | 0.22 | | $ | 0.23 |
Potential common shares from stock options that were not included in the computation of diluted earnings per common share, because they were anti-dilutive under the treasury stock method, were 75,000 for the three months ended March 31, 2026, and were 852,500 for the three months ended March 31, 2025.
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